Virtual Card - Personal Banking

Features

The key features of Virtual Card are as follows: Security

• It reduces the risk of exposing the underlying Credit/Debit limit as the Primary Card / Account details are not communicated to the Merchant.
• Card is valid up to a maximum of 48 hours or till the transaction is complete, whichever is earlier.
• Card creation and online transaction are authorised only after successful validation of One Time Password (OTP) sent to your Mobile during the process.

Highly Flexible

• It enables Bank customers to pay from any of their Internet Banking enabled accounts, having transaction rights.
• Card can be created for any amount in round rupees. Card can be used at any online merchant site that accepts Debit/Credit Cards.

Easy to Use

• No separate setup/ installation or registration is required, any customer having internet banking facility with transaction rights can create Virtual Card.

Zero Loss

• No loss of interest as the Card is generated by marking a lien on the underlying account and the amount is debited only when actual transaction using the Virtual Card is completed, successfully.

• Card Type : Visa (May be extended to MasterCard Platform)
• Currency of Issue : Indian Rupee only.
• Minimum amount of Issue : Rs. 100/-
• Maximum amount of Issue : Rs. 50,000/-
• Frequency of usage (Single / Multi) : Single-transaction Card
• Card Acceptability : At any merchant outlet that has facility for Online purchase.
• Domestic / International : Domestic use only. (Valid for payment in INR in India, Nepal & Bhutan)
• Card Validity : As soon as the transaction is completed. Or If the card is cancelled. Or Card is not used for 48 hours after creation. (Whichever is earlier)
• No of cards per customer per day : No limit
• Issuance / Maintenance Fee : NIL
• Refund / Cancellation. : Once card is cancelled or expired, the lien marked shall be lifted and the unspent / unutilised amount will automatically be available to the customer for use.